Laserfiche WebLink
<br />state, subject to the limits specified in the plan of <br />operation but not to exceed fifty thousand dollars for each <br />claimant under one policy and one million dollars for all <br /> <br />claimants under one policy in anyone year; <br /> <br />(II) To underwrite such insurance; <br /> <br />(III) To adjust and pay losses with respect thereto; and <br /> <br />(IV) To cede reinsurance. <br /> <br />(b) The association may contract with one or more <br />servicing carriers to perform any or all of the duties of the <br /> <br />association. <br /> <br />10-4-1104. Board of directors. <br /> <br />(1) The association <br /> <br />shall be governed by a board of ten directors, to be selected <br />on or before October 1, 1983, in the following manner: <br />(a) Five directors shall be elected annually by <br />cumulative voting by the members of the association, whose <br /> <br />votes in such election shall be weighted in accordance with <br /> <br />each member's net direct premiums written during the preceding <br /> <br />calendar year. The five directors serving on the board shall <br /> <br />be elected at a meeting of the association held at a time and <br /> <br />place designated by the commissioner. <br />(b) One director shall be the state engineer, ex <br /> <br />officio. <br /> <br />(c) Four directors shall be appointed annually by the <br /> <br />executive director of the department of natural resources in <br /> <br />accordance with the following specifications: <br /> <br />(I) Two directors shall be representatives of reservoir <br /> <br />-17- <br /> <br />1~. <br /> <br />_,... _~ ,........~...,.-:---O"_.__ _._~ <br /> <br />~ <br />~ -( <br />~.' <br />~.. <br />.... <br />l.. -6..._, <br />~~. <br />"-,~<~~. <br /> <br />I <br />1 <br /> <br /> <br />I, <br />: <br />